Earth Science Tech Appoints New CMO, Adds Directors
Ticker: ETST · Form: 8-K · Filed: Aug 27, 2024 · CIK: 1538495
| Field | Detail |
|---|---|
| Company | Earth Science Tech, INC. (ETST) |
| Form Type | 8-K |
| Filed Date | Aug 27, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-election, appointment
TL;DR
ESTI brings in a new CMO and two directors, expect some new science plays.
AI Summary
Earth Science Tech, Inc. announced on August 16, 2024, the appointment of Dr. Steven R. Smith as Chief Medical Officer and the election of Dr. Smith and Mr. Robert L. Johnson to its Board of Directors. The company also disclosed compensatory arrangements for these individuals, including stock options and salary, as part of its ongoing business operations.
Why It Matters
The appointment of a Chief Medical Officer and new directors signals a potential strategic shift or expansion in the company's focus, particularly within the life sciences and pharmaceutical sectors.
Risk Assessment
Risk Level: medium — The appointment of new key personnel and directors can introduce both opportunities and uncertainties, impacting the company's strategic direction and financial performance.
Key Numbers
- 000-55000 — Commission File Number (Identifies the company's filing with the SEC)
Key Players & Entities
- Earth Science Tech, Inc. (company) — Registrant
- Dr. Steven R. Smith (person) — Appointed Chief Medical Officer and elected to Board of Directors
- Mr. Robert L. Johnson (person) — Elected to Board of Directors
- August 16, 2024 (date) — Date of earliest event reported
FAQ
What are the specific compensatory arrangements for Dr. Steven R. Smith and Mr. Robert L. Johnson?
The filing indicates compensatory arrangements were made, including stock options and salary, but specific details are not fully elaborated in the provided text.
What is the background and expertise of Dr. Steven R. Smith relevant to his new role as CMO?
The filing states Dr. Smith's appointment as Chief Medical Officer, implying relevant medical expertise, but does not detail his specific background or qualifications.
What is the strategic rationale behind appointing Dr. Smith and Mr. Johnson to the Board of Directors?
The filing announces their election to the Board of Directors, suggesting they bring valuable experience, but does not explicitly state the strategic reasons for their appointment.
Does the election of these new directors indicate a change in the company's strategic direction?
While the filing does not explicitly state a change in strategic direction, the addition of a CMO and new board members often signifies evolving company priorities.
What is the primary business of Earth Science Tech, Inc. as indicated by its SIC code?
Earth Science Tech, Inc. is classified under Pharmaceutical Preparations (SIC code 2834).
Filing Stats: 575 words · 2 min read · ~2 pages · Grade level 10.9 · Accepted 2024-08-27 11:31:41
Key Financial Figures
- $0.001 — ange on which registered Common Stock $0.001 par value ETST Over the Counter Bul
Filing Documents
- form8-k.htm (8-K) — 38KB
- 0001493152-24-033969.txt ( ) — 208KB
- etst-20240816.xsd (EX-101.SCH) — 3KB
- etst-20240816_lab.xml (EX-101.LAB) — 33KB
- etst-20240816_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
From the Filing
UNITED SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 16, 2024 Commission File No. 000-55000 EARTH SCIENCE TECH, INC. (Exact name of registrant as specified in its charter) florida 80-0961484 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 8950 SW 74 th CT Suite 101 Miami , FL 33156 , USA (Address of principal executive offices, zip code) (305) 724-5684 (Registrant's telephone number, including area code) 10650 NW 29th Terrace Doral , FL 33172 , USA (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(g) of the Act: Title of Each Class Trading Symbol Name of each exchange on which registered Common Stock $0.001 par value ETST Over the Counter Bulletin Board Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02(e) Compensatory Arrangements of Certain Officers On August 15, 2024, the Board of Directors of Earth Science Tech, Inc., a Florida corporation (the "Company"), approved a new twelve-month Employment Agreement for its officers Giorgio R. Saumat, the Company's CEO and Chairman of the Board, and Mario G. Tabraue, the Company's COO and Director of the Board, entered on August 16, 2024. Under the new agreement, the CEO shall receive eighteen percent of the Company's monthly cash receipts while the COO shall receive twelve percent. Payments will commence on October 1, 2024, and will be based on the preceding month's cash receipts, provided the Company's net profit increases quarter over quarter. If the Company fails to increase its net profit, the arrangement must be renegotiated, with no payments made at the beginning of the new quarter. Additionally, the COO has agreed to relinquish all current roles held in the Company's wholly owned subsidiaries, along with the associated compensation, in order to focus exclusively on his duties as COO. This adjustment reflects the COO's commitment to the new role and revised scope of responsibilities. Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EARTH SCIENCE TECH, INC. Dated: August 27, 2024 By: /s/ Giorgio R. Saumat Giorgio R. Saumat Its: CEO and Chairman of the Board